Short Term Trading Member Forum

[pmiles]

Euro and Gold

I think we're beginning to see the first inkling of the coming disconnect between The Euro and gold.

So far the euro has only done a 0.382 retrace of the move up from its 80 week low as it goes into its 5 week low.

Gold on the other hand has done a full 50 retrace of the move up from its 40 week low as it goes into its 5 wee low.

Also gold broke its 2.5 week FLD to the downside and then met the target. In doing so it broke its 5 week FLD.

The Euro on the other hand has not met its 2.5 week FLD target and has not broken its 5 week FLD.

The odds are hugely in favor of new highs for the Euro but quite doubtful for gold.

Other opinions?